“Other revenues expected in 2019 include various recoveries of N203.38 billion; N710 billion as proceeds from the restructuring of government equity in joint ventures, and other sundry incomes of N104.1 billion,” he said.

The president explained that the total N8.83 trillion proposed expenditure for 2019 included grants and donor funds amounting to N209.92 billion.

Buhari said although the 2019 estimate was lower than the 2018 budget of N9.1 trillion, it was higher than the N8.6 trillion originally proposed by the executive to the National Assembly.

The budget deficit is projected to decrease to N1.86 trillion or 1.3 per cent of the GDP in 2019 from N1.95 trillion projected for 2018.

“This reduction is in line with our plan to progressively reduce deficit and borrowings over the medium term,” he said.

On sectoral allocation, the president said the Ministry of Interior would get N569.07billion, Defence (N435.62 billion), Education (N462.24 billion) and Health (N315.62 billion).(NAN)